Blog of the Mortgage

2007 was the year that took us by surprise. 2008 was the year to survive and 2009 was the year to get back to basics.

We took our lumps and bumps and figured out how to originate what I think are the right loans for the right borrowers.

2010 will be the year for the originator to grow and continue to take local market share. With all of the legislative activity,

licensing requirements and HUD’s continuous changes being forced upon both the Consumer and the Originator 2010

will prove itself to be both challenging but also VERY, VERY rewarding.

More will leave this business and that presents us with a unique opportunity to position ourselves as industry veterans

(this has been a war of sorts, no?) with the capacity and ability to move and change with the times. All this upheaval is doing

for us is pushing us to become better at our craft and to hone our skills to be the best in our marketplace.

I feel like 2010 will be the year of professionalization of our industry. For all of the lack of regulation we’ve enjoyed in our

business it’s about time we got serious about our position in our customers lives: Helping them make one of, if not the

largest financial decision in their lifetime.

This presents an additional opportunity for us as well in that we (the originators) are being blamed for the collapse of the

housing industry in our country. With these changes we will be able to further position ourselves with our customers and

those of us left standing in the room will be given some much deserved credibility.

Many fear that the death of the independent originator will happen in 2010 and that may be the case. However that does

not mean that Mortgage Originators will be forced out, you will simply adapt and end up working under a different umbrella.

If this does happen, just take heart that consolidation doesn’t last forever and independence will be permitted again in the

future only with different (and definitely higher) barriers to entry. Not a bad thing for us or our business.

I look forward to continuing to partner with you and your team in 2010 and having some of the best professional years of our careers ahead of us.

Happy New Year

Sincerely,

Raoul Badde